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Archive for the ‘Economy’ Category

GIC chut pattern, comes up with non-existent ‘combined strategy’ after record loss in a CPF investment

I refer to “GIC pares stake in UBS at a loss; combined strategy with Citigroup sees positive return”. link GIC should not attempt to mislead Singaporeans by linking an individual losing investment (UBS) to another profitable one (Citi). Fact: GIC never once mentioned any combined strategy in 2007 or 2008 when it speculated...

Biggest CPF investment suffers massive loss

I refer to Bloomberg article, “Disappointed with UBS loss, Singapore’s GIC fund cuts stake”. [ link ] GIC is now paying the price for speculating in UBS at the height of the subprime crisis. With government blessing, GIC had pumped in S$14,000,000,000 into the unknown only 3 days after it had received an SOS from UBS...

Dr Chee: 5 ways China can sink our economy

LET'S NOT BEAT around the bush. PM Lee Hsien Loong's absence at the New Silk Road summit currently taking place in China is a big deal. Was he not invited or did he elect not to attend (and despatched National Development Minister Lawrence Wong instead)? The former seems the more plausible account. Either way, the development...

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